Projections for Ohio’s Current Agricultural Use Value (CAUV) Program for each soil type in Ohio, based on the 2017 formulation which substantially changed from previous years. The Ohio Department of Taxation (ODT) provides an overview of the caclulation for CAUV values which are used within this repository.
The purpose of this repository is to have open source documentation of the calculation for CAUV values which can also be leveraged for projecting future values for soil types CAUV valuation. Likely of most interest is the current projections for CAUV that you can find by clicking that link. A more dynamic version with descriptions is available at Ohio CAUV Value Projections for 2019 and 2020 – PDF version also available
Current 2020 projection:
Recommendations for alterating the calculation procedure for CAUV calculations to be presented 2020-01-08:
An oversimplified description of how to calculate the CAUV value for a particular soil type is that it is the expected net returns from farming corn, soybeans, and wheat on an acre of land divided by capitalization rate to give a present value for owning a piece of land for commercial agricultural production. Please read the CAUV formula description for a more in-depth understanding of the program. The following pages provide description of the data involved with each component:
The usdarnass package is used for updating official USDA data and is not on CRAN. To install, a user must run the following command in R:
Afterwards, the user must register a NASS API Key through USDA and install the key on their local machine with the
set_nass_key("YOUR_KEY_IN_QUOTATIONS") command with the
The structure of the repository is as follows:
0-data_source.R- script to download data and create
.rdsfiles in an easy to read and uniform format. Some of these data are not online and cannot be downloaded. For those data that cannot be downloaded, they reside in this repository.
.gitignore- any large files will not be loaded to GitHub.
1-tidy-cauv.R- script to gather and format data in a usable way by each component
ohio_cauv_all- as .csv and .rds but these are all of the components joined together which is a large amount of variables.
2-calc_component.R- each component.
3-project_proj.R- projected calculation of CAUV based upon the project at play. These will include high and low based on the Olympic averaging component of the CAUV calculation. Other projections place restrictions on how one would anticipate trends in particular components.
All categories are Olympic averages with the exception of rotation and yields.
|Tax Year||Capitalization Rate||Yields||Prices||Non-Land Costs||Rotation|
|Future Years||current to 6 years ago||previous to 11 years ago||previous to 7 years ago||current to 6 years ago||previous to 5 years ago|
|Averaging||7 Olympic||10 Average, lagged||7 Olympic, lagged||7 Olympic||5 Average, lagged|
Sources and timing of release:
Typical timeline, using Tax Year 2019 as example:
|May 2018||Crop||Wheat acres/yield forecast for 2018 value (used in 2019 formula)|
|June 2018||Crop||Corn, soybeans, and wheat acreage report plus wheat yield update|
|July 2018||Crop||Wheat acres/yield forecast|
|August 2018||Crop, ERS||Corn, soybeans, and wheat acres/yield forecast|
|September 2018||Crop||Corn, soybeans, and wheat acres/yield forecast|
|October 2018||Crop, Budgets||Corn and soybeans acres/yield forecast; Ohio State Extension releases first budget report|
|November 2018||Crop, ERS||Corn and soybeans acres/yield forecast|
|January 2019||Crop||Finalized corn, soybeans, and wheat acres/yield|
|February 2019||ERS||ERS finalizes the value for return to equity|
|March 2019||Prices||First published marketing year price data on corn, soybeans, and wheat for 2018|
|May 2019||Budgets||unofficial, there is no hard date for this but usually the|
|August 2019||ODT Official Values; FCS Interest Rate for Cap Rate||Rough estimate|
|November 2019||Prices||Official marketing year price data on corn, soybeans, and wheat for 2018|